Metis Global Partners LLC Lowers Stake in Caterpillar Inc. (NYSE:CAT)

Metis Global Partners LLC trimmed its position in shares of Caterpillar Inc. (NYSE:CAT) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,269 shares of the industrial products company’s stock after selling 506 shares during the period. Metis Global Partners LLC’s holdings in Caterpillar were worth $9,101,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in Caterpillar by 39,534.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,136,667 shares of the industrial products company’s stock valued at $8,356,930,000 after purchasing an additional 2,131,276 shares during the period. Canada Pension Plan Investment Board grew its holdings in Caterpillar by 306.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 407,677 shares of the industrial products company’s stock valued at $149,385,000 after buying an additional 307,479 shares in the last quarter. Altshuler Shaham Ltd increased its stake in Caterpillar by 3,319.7% in the 2nd quarter. Altshuler Shaham Ltd now owns 275,011 shares of the industrial products company’s stock worth $91,606,000 after acquiring an additional 266,969 shares during the last quarter. Swedbank AB bought a new position in shares of Caterpillar during the 1st quarter valued at approximately $97,042,000. Finally, Capital International Investors grew its holdings in shares of Caterpillar by 99.9% in the first quarter. Capital International Investors now owns 488,660 shares of the industrial products company’s stock valued at $179,060,000 after purchasing an additional 244,253 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Citigroup dropped their target price on Caterpillar from $445.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Truist Financial increased their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America boosted their price objective on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of “Hold” and an average target price of $365.33.

Caterpillar Stock Performance

Caterpillar stock opened at $388.11 on Thursday. The company has a 50 day moving average price of $379.68 and a 200-day moving average price of $353.59. The company has a market capitalization of $187.38 billion, a PE ratio of 17.95, a P/E/G ratio of 1.94 and a beta of 1.10. Caterpillar Inc. has a fifty-two week low of $241.81 and a fifty-two week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.52 EPS. As a group, equities analysts forecast that Caterpillar Inc. will post 21.69 earnings per share for the current year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is currently 26.15%.

Insider Transactions at Caterpillar

In related news, insider Anthony D. Fassino sold 3,185 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total value of $1,119,081.60. Following the completion of the transaction, the insider now owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Caterpillar news, insider Anthony D. Fassino sold 3,185 shares of Caterpillar stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $338.59 per share, with a total value of $33,859.00. Following the completion of the acquisition, the director now directly owns 2,842 shares of the company’s stock, valued at $962,272.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 23,749 shares of company stock valued at $9,251,912. Company insiders own 0.29% of the company’s stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.